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This test consists of 15 multiple choice questions and 5 short answer questions.

Multiple Choice Questions

1. What is the first thing Sam does?
(a) He makes friends with those who run the town.
(b) He sends his sons to investigate the town.
(c) He moves into the town.
(d) He establishes a warehouse.

2. Why does Sam buy a little bank in Bentonville?
(a) In order to earn money for Wal-Mart.
(b) He wants to control his money.
(c) In order to lend money to himself.
(d) In order to better understand the lending process and banking industry overall.

3. Sam enlists the help of Charlie Baum, whom he met ______________.
(a) While working at JC Penney.
(b) While working with the Ben Franklin store.
(c) In high school.
(d) While in college.

4. Unions have tried to organize at Wal-Mart. Have they been successful?
(a) Yes.
(b) Not at first.
(c) Only at first.
(d) No.

5. Sam credits the success of the business with what relationship?
(a) The one he has with his employees.
(b) The one Sam has with his father-in-law.
(c) The one he has with his wife.
(d) The one that the managers have with their associates.

6. Helen had to help Sam sign the notes to secure all the money and by the time it was ready, what had happened?
(a) They had borrowed as much as they possibly could.
(b) They had decided to borrow money.
(c) They had spent all of their own money.
(d) They had borrowed some money.

7. What do Sam and Bob have Sam's son Rob do for them?
(a) Look into the legal aspects of going public and issuing stock shares to the public.
(b) Find a way to avoid paying taxes, so they can start to get out of debt.
(c) Sue another company, so they can pay off their debts.
(d) Find a good lawyer to look into the legal aspects of going public and issuing stock shares to the public.

8. Sam finds a store in Bentonville, but almost does not get the business. Why?
(a) The two widowed owners almost refuse to sell it.
(b) He does not want to move to Bentonville.
(c) Helen does not want him to buy it.
(d) He cannot afford to buy the store.

9. A number of employees have gained a great deal of financial wealth from ____________.
(a) Becoming managers.
(b) Becoming executives.
(c) Working long hours.
(d) The profit-sharing program.

10. To encourage family togetherness, what does Sam do?
(a) His family must not go anywhere without him.
(b) He is his sons' Boy Scout leader.
(c) The family must be home for dinner every night.
(d) He plans family vacations every weekend.

11. While debating the idea of going public, Sam flies around looking for _________.
(a) Someone to legally represent him.
(b) Locations for new stores.
(c) New executives.
(d) Another $1.5 million loan.

12. What is significant about Sam's bet regarding being an Eagle Scout?
(a) He is the youngest in the state of Missouri at the time.
(b) He helped his sons become Eagle Scouts.
(c) He never truly wanted to be a Boy Scout.
(d) He never became an Eagle Scout.

13. In the beginning, why was Sam unable to pay the associates well?
(a) He had too many associates.
(b) He was too cheap.
(c) He did not think they deserved to be paid well.
(d) He wanted to keep the money for himself.

14. When does Wal-Mart become a publicly-traded company?
(a) October 1, 1980.
(b) October 1, 1975.
(c) October 1, 1968.
(d) October 1, 1970.

15. Although Sam considers himself a fairly conservative guy, he is a _________ in the world of business.
(a) Maverick.
(b) Liberal.
(c) Oddity.
(d) Conservative.

Short Answer Questions

1. The way the management treats its associates is exactly how they will treat who?

2. Sam describes Phil as a man who not only likes to swim upstream but also that he likes to do it __________.

3. Why does Wal-Mart share information with its associates?

4. Sam believes that the reason that Wal-Mart was successful is because __________.

5. Sam says by making sure the customers are treated well, what will be the result?

(see the answer keys)

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